This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Along with the balance sheet, cash flow statement and shareholders' equity statement, an income statement is one of the major financial reports often required to be prepared by a company for its ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to ...

Direct costs -- such as labor and parts -- are those linked to the provision of services or the manufacturing of goods. Look for these costs in the "cost of goods sold" section of a statement of ...

As a business owner monitoring the financial health of your business is an essential task. You need to understand the financial position of your company and how you can improve it. The income ...